Legacy Wealth Management LLC MS Raises Stock Position in AT&T Inc. (NYSE:T)

Legacy Wealth Management LLC MS grew its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 18.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,016 shares of the technology company's stock after acquiring an additional 9,497 shares during the period. Legacy Wealth Management LLC MS's holdings in AT&T were worth $1,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in AT&T in the 4th quarter worth $1,858,418,000. GQG Partners LLC boosted its holdings in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after buying an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after buying an additional 12,881,578 shares during the period. Northern Trust Corp boosted its holdings in shares of AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock valued at $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

T has been the subject of several research reports. Oppenheimer increased their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. TD Securities increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, April 24th. BNP Paribas raised shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. Tigress Financial increased their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $28.71.

AT&T Trading Up 1.3%

AT&T stock traded up $0.35 during midday trading on Friday, reaching $27.73. The stock had a trading volume of 47,953,734 shares, compared to its average volume of 36,774,351. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The firm has a market cap of $199.53 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a fifty day moving average of $27.36 and a 200 day moving average of $25.31.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The firm had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same period last year, the company earned $0.55 earnings per share. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.